Published: Feb 10, 2025 at 02:30 AM
Updated: Feb 10, 2025 at 12:39 AM
- Crypto.com adds XRP contracts to its UpDown Options, enhancing trading flexibility.
- XRP’s recent gains and volatility have driven increased interest in futures trading.
- UpDown Options provide a regulated tool for traders to profit from both rising and falling markets.
Crypto.com has announced the addition of XRP contracts to its UpDown Options platform, providing traders with new opportunities to participate in the futures market. This new offering is part of Crypto.com’s continued expansion of its derivative products, with XRP now joining other popular tokens such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
The addition of XRP to the UpDown Options platform marks an important milestone for both the exchange and the token. UpDown Options are unique in that they allow traders to speculate on price movements in both directions, a feature that enhances market flexibility. Currently, the XRP UpDown Options are only available to users in the United States, as per Crypto.com’s announcement.
XRP launched this new trading feature during a period when its market value started showing positive signs after cryptocurrency prices become volatile. The XRP token price continues to rise positively which attracts many traders and investors to it. This product creation presents traders with an officially permitted way to capitalize on market direction through price fluctuations.
Futures market traders show growing interest because XRP experienced substantial price alteration in its recent market activity. XRP achieved a 3.13% price increase throughout the previous 24 hours to reach $2.47 as per current market statistics. The cryptocurrency experienced a rise after its markets demonstrated recovery due to the overall market expansion and Bitcoin and Ethereum price increases.
Even though XRP demonstrated solid gains recently, its market value continues to experience price volatility because markets remain unpredictable in the next few days. The token shows resistance near its vital 50-day simple moving average (SMA) at $2.62 after using this level as a previous support point. To continue its upward momentum, XRP needs to flip this level back into support. If successful, XRP could aim for the $3 level, marking a further rise.
Alternatively, XRP may enter a phase of consolidation between its 50-day and 200-day SMAs, currently at $2.62 and $1.32, respectively. In this scenario, the price would likely hover between these two levels. A sharp price drop could see XRP find support around $2, an important psychological and technical level for the token.
The XRP UpDown Options initiative adds new products to Crypto.com’s platform while following industry-wide shifts toward complex trading options in the crypto market. Crypto.com enhances its position in crypto derivatives through its support of XRP assets.
The new product release demonstrates increasing client interest in controlled innovative trading solutions across the U.S. marketplace. The regulatory oversight from the Commodity Futures Trading Commission (CFTC) gives Crypto.com traders increased confidence because the platform operates under U.S. regulatory standards. Both retail and institutional investors will find a secure futures trading platform through the appealing solution offered by the platform.
The launch of UpDown Options presents an opportunity for XRP traders to invest in price direction changes across upward and downward trends. XRP traders find the service appealing because of its ability to offset price volatility which remains a recurring issue with XRP markets. However, this feature operates exclusively for U.S. users at present but provides international exchanges an opening to advance similar features worldwide.
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